Fas/faz - 5/4

Quote from scot.mcpherson:

See I want to buy FAZ for the drop tomorrow, but looks at the Dow, it has gapped up more often than gapping down lately. I might enter FAZ thinking I got a great price for an overnight hold to find out I lost $.30 or MORE per share at opening bell.


FAZ has taken a REAL dive bomb. It's gotta come back up, the market can't stay so inflated.


This why I look at XLF.

It explains a lot.

Flat top pennant is broken.

You don't see that in FAS.
 

Attachments

Hey, I was short with you there for a while.

But I can run and take the reverse if want.

Not to be pushy, but uncertain days like this is perfect for doing the 1/2 size/hold both sides strategy like I kinda laid out in last week's thread, and taking what you can, even if it's only 2-3 %.... THEN loading up on days when you see a perfect set up, and blow a day trade.

Just sayin'......

ETA: jeeze, I shoulda held a while more, LOLZ.....
 
Quote from Eko_Trader:

Should I be punched for going short this market now? I'm getting that sinking feeling in my belly...

if it makes you feel any better I went long on FAZ at 6.31...I feel like I shot myself in the foot also, however this is quite possibly a home run position so...I took it. Watch the AH market to see what's going to happen
 
Quote from scot.mcpherson:

if it makes you feel any better I went long on FAZ at 6.31...I feel like I shot myself in the foot also, however this is quite possibly a home run position so...I took it. Watch the AH market to see what's going to happen

I agree, it could be the trade you always remember, but it's hard to swallow given how the market is just running ahead
 
Quote from scot.mcpherson:

if it makes you feel any better I went long on FAZ at 6.31...I feel like I shot myself in the foot also, however this is quite possibly a home run position so...I took it. Watch the AH market to see what's going to happen

I better sell my posish now.
 
Back
Top